The Takeaway: Optimism that "green shoots" of recovery are beginning to appear has the media excited, (and others complaining that such optimism is for fools), but whether the recovery comes sooner or later the question remains: will managers be ready for it? With many companies having hemorrhaged staff during the crisis, management expert Bates argues that many firms are not prepared to capitalize on an upswing:

Due to layoffs of more experienced and higher-salaried managers, some employees have been promoted from within to replace them who do not have the necessary leadership, management and motivational capabilities to capitalize on the recovery.

There will also be increased pressure on businesses to retain and attract their best people during a recovery... If your company downsized with an axe rather than using a scalpel, you may now have some gaping holes you need to fill.

To prepare your firm to take advantage of a recovery, Bates recommends assessing the motivational capabilities of your managers and their ability to develop others, prioritizing managing the emotional side of their organization as lay-offs can severely dent morale, and rewarding employees with low-cost incentives.